Archive for January, 2011

Belize is 71st freest economy

Monday, January 24th, 2011

According to the Heritage Foundation’s 2011 Index of Economic Freedom, Belize has been ranked 71st. The Index covers 193 countries.

Belize’s economic freedom score is 63.8, which is 2.3 points better than last year. The improvement can be explained mainly by the improved scores in fiscal, monetary, and labor freedoms.

It is worth noting that Belize is ranked 14th out of 29 countries in the South and Central America/Caribbean region.

The Heritage Foundation noted that Belize’s record on structural reforms has been uneven, and more dynamic economic growth is constrained by lingering policy weaknesses in many parts of the economy. Entrepreneurial activity in Belize continues to be limited, while recovery from the recent economic slowdown has been narrowly based. It was also mentioned that special licensing requirements discourage foreign investment in many sectors. Also, foreign exchange regulations are inconsistent and non-transparent.

In accordance with 2011 Index of Economic Freedom, the world’s freest economy is Hong Kong.